Rs 122 Crore Fraud Exposed: New India Co-operative Bank's GM Under Investigation

Mumbai (The Uttam Hindu): After RBI imposed restrictions on withdrawals from New India Cooperative Bank Limited, a complaint was filed against the bank's General Manager. On Saturday, the bank's acting Chief Executive Officer (CEO) Devarshi Shishir Kumar Ghosh lodged an FIR against General Manager Hitesh Mehta and his associates at Mumbai's Dadar Police Station. In the FIR lodged by Devarshi Shishir Kumar Ghosh, it is alleged that General Manager Hitesh Mehta and some of his colleagues hatched a criminal conspiracy and embezzled Rs 122 crore from the bank. The General Manager committed this scam along with his colleagues by misusing his position.The complainant, Devarshi Shishir Kumar Ghosh, who is currently working as the bank's acting CEO, lodged a complaint on Friday. The FIR has been registered against the accused under sections 316(5) and 61(2) of the Indian Penal Code (IPC). The investigation of this case has now been handed over to the Economic Offenses Wing (EOW) of Mumbai.

This investigation will be looked into by his special team led by DCP Mangesh Shinde. DCP Mangesh Shinde is known for investigating crimes related to banking matters, and in this case too, the investigation will proceed under his supervision. Amidst all this, a long queue of people was seen outside the Ghatkopar branch of the bank on Saturday. An account holder of the bank said that on Friday there was news of ban on withdrawal from the bank, after which we all got scared. But, today the Ghatkopar branch is only allowing withdrawal of money from the bank locker. Let us tell you that on Friday, the Reserve Bank of India (RBI) has imposed restrictions on Mumbai's New India Co-operative Bank. RBI says that these restrictions will remain in force until the condition of the bank improves. After this ban, account holders are seen going to different banks to get information about their accounts. Actually, due to this ban, bank customers cannot withdraw their money. Apart from this, the central bank has also banned giving new loans, depositing money and fixed deposits.